Ultratech Cement has reported a net profit of Rs 370 crores for the quarter ending Dec 30, 2013 as against Rs 601 crores reported in the corresponding period of last year.

Net revenues for the period stood at Rs 4786 crores, as against Rs 4857 crores in the corresponding period of last year.

The company said that the results have been impacted largely as a result of lower sale prices, due to subdued demand.

Demand growth in long term is likely to be around 8 per cent, the company has said.

"However, ongoing cost optmisation have helped in containing cost, despite the increase in input costs and logistic costs," the company has said.

The combined domestic cement and clinker manufacturing was flat at 9.7 million tonnes. The stock of Ultratech Cement was trading marginally lower on the Bombay Stock Exchange at Rs 1717.

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